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Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2020

Receivables [Abstract]

Allowance for Loan Losses by Class of Financing Receivable and Allowance

A breakdown of the allowance for loan losses as of June 30, 2020, December 31, 2019, and June 30, 2019, by class of financing receivable and allowance element, is presented in the following tables:

As of June 30, 2020			Specific Reserves on Loans Evaluated Individually for Impairment						General Reserves on Loans Based on Historical Loss Experience						Reserves for Qualitative Factors						Unallocated Reserves						Total Reserves
Commercial
Real estate			$	199,000					$	631,000					$	3,681,000					$	—					$	4,511,000
Construction			20,000						74,000						430,000						—						524,000
Other			132,000						521,000						3,036,000						—						3,689,000
Municipal			—						—						110,000						—						110,000
Residential
Term			269,000						285,000						1,707,000						—						2,261,000
Construction			—						9,000						55,000						—						64,000
Home equity line of credit			292,000						99,000						893,000						—						1,284,000
Consumer			5,000						195,000						458,000						—						658,000
Unallocated			—						—						—						1,009,000						1,009,000
			$	917,000					$	1,814,000					$	10,370,000					$	1,009,000					$	14,110,000

As of December 31, 2019			Specific Reserves on Loans Evaluated Individually for Impairment						General Reserves on Loans Based on Historical Loss Experience						Reserves for Qualitative Factors						Unallocated Reserves						Total Reserves
Commercial
Real estate			$	251,000					$	729,000					$	2,762,000					$	—					$	3,742,000
Construction			—						76,000						289,000						—						365,000
Other			1,273,000						430,000						1,626,000						—						3,329,000
Municipal			—						—						27,000						—						27,000
Residential
Term			237,000						153,000						634,000						—						1,024,000
Construction			—						5,000						20,000						—						25,000
Home equity line of credit			447,000						130,000						501,000						—						1,078,000
Consumer			5,000						460,000						402,000						—						867,000
Unallocated			—						—						—						1,182,000						1,182,000
			$	2,213,000					$	1,983,000					$	6,261,000					$	1,182,000					$	11,639,000

As of June 30, 2019			Specific Reserves on Loans Evaluated Individually for Impairment						General Reserves on Loans Based on Historical Loss Experience						Reserves for Qualitative Factors						Unallocated Reserves						Total Reserves
Commercial
Real estate			$	196,000					$	789,000					$	2,624,000					$	—					$	3,609,000
Construction			—						72,000						237,000						—						309,000
Other			1,320,000						457,000						1,504,000						—						3,281,000
Municipal			—						—						25,000						—						25,000
Residential
Term			305,000						197,000						604,000						—						1,106,000
Construction			—						6,000						17,000						—						23,000
Home equity line of credit			9,000						156,000						468,000						—						633,000
Consumer			—						279,000						370,000						—						649,000
Unallocated			—						—						—						1,836,000						1,836,000
			$	1,830,000					$	1,956,000					$	5,849,000					$	1,836,000					$	11,471,000

Summary of Risk Ratings for Loans

The following table summarizes the risk ratings for the Company's commercial real estate, commercial construction, commercial other, and municipal loans as of June 30, 2020:

			Commercial Real Estate						Commercial Construction						Commercial Other						Municipal Loans						All Risk- Rated Loans
1 Strong			$	—					$	—					$	3,893,000					$	27,000					$	3,920,000
2 Above Average			9,390,000						1,288,000						4,213,000						46,371,000						61,262,000
3 Satisfactory			85,033,000						1,972,000						140,125,000						369,000						227,499,000
4 Average			218,270,000						25,716,000						123,909,000						2,877,000						370,772,000
5 Watch			67,527,000						17,748,000						46,855,000						—						132,130,000
6 OAEM			2,714,000						—						2,692,000						—						5,406,000
7 Substandard			14,221,000						445,000						6,280,000						—						20,946,000
8 Doubtful			—						—						—						—						—
Total			$	397,155,000					$	47,169,000					$	327,967,000					$	49,644,000					$	821,935,000

The following table summarizes the risk ratings for the Company's commercial real estate, commercial construction, commercial other, and municipal loans as of December 31, 2019:

			Commercial Real Estate						Commercial Construction						Commercial Other						Municipal Loans						All Risk- Rated Loans
1 Strong			$	—					$	—					$	4,258,000					$	32,000					$	4,290,000
2 Above Average			12,393,000						794,000						6,187,000						38,290,000						57,664,000
3 Satisfactory			74,709,000						2,305,000						41,527,000						379,000						118,920,000
4 Average			205,510,000						19,017,000						107,389,000						2,587,000						334,503,000
5 Watch			63,582,000						15,488,000						47,152,000						—						126,222,000
6 OAEM			1,160,000						—						1,988,000						—						3,148,000
7 Substandard			15,456,000						480,000						10,272,000						—						26,208,000
8 Doubtful			—						—						—						—						—
Total			$	372,810,000					$	38,084,000					$	218,773,000					$	41,288,000					$	670,955,000

The following table summarizes the risk ratings for the Company's commercial real estate, commercial construction, commercial other, and municipal loans as of June 30, 2019:

			Commercial Real Estate						Commercial Construction						Commercial Other						Municipal Loans						All Risk- Rated Loans
1 Strong			$	—					$	—					$	3,683,000					$	39,000					$	3,722,000
2 Above Average			12,912,000						36,000						4,813,000						33,549,000						51,310,000
3 Satisfactory			81,155,000						2,380,000						43,635,000						398,000						127,568,000
4 Average			183,012,000						20,854,000						90,772,000						2,127,000						296,765,000
5 Watch			61,807,000						9,254,000						50,417,000						—						121,478,000
6 OAEM			1,461,000						—						1,906,000						—						3,367,000
7 Substandard			19,234,000						261,000						10,684,000						—						30,179,000
8 Doubtful			—						—						—						—						—
Total			$	359,581,000					$	32,785,000					$	205,910,000					$	36,113,000					$	634,389,000

Allowance for Loan Losses Transactions

The following table presents allowance for loan losses activity by class for the six months and quarter ended June 30, 2020, and allowance for loan loss balances by class and related loan balances by class as of June 30, 2020:

			Commercial															Municipal			Residential									Home Equity Line of Credit			Consumer			Unallocated			Total
			Real Estate			Construction			Other						Term			Construction
For the six months ended June 30, 2020
Beginning balance			$	3,742,000		$	365,000		$	3,329,000		$	27,000		$	1,024,000		$	25,000		$	1,078,000		$	867,000		$	1,182,000		$	11,639,000
Charge offs			—			—			17,000			—			46,000			—			153,000			201,000			—			417,000
Recoveries			—			—			20,000			—			26,000			—			19,000			73,000			—			138,000
Provision (credit)			769,000			159,000			357,000			83,000			1,257,000			39,000			340,000			(81,000)			(173,000)			2,750,000
Ending balance			$	4,511,000		$	524,000		$	3,689,000		$	110,000		$	2,261,000		$	64,000		$	1,284,000		$	658,000		$	1,009,000		$	14,110,000
For the three months ended June 30, 2020
Beginning balance			$	3,862,000		$	424,000		$	2,427,000		$	29,000		$	1,226,000		$	32,000		$	1,012,000		$	725,000		$	2,121,000		$	11,858,000
Charge offs			—			—			17,000			—			44,000			—			—			101,000			—			162,000
Recoveries			—			—			—			—			16,000			—			18,000			30,000			—			64,000
Provision (credit)			649,000			100,000			1,279,000			81,000			1,063,000			32,000			254,000			4,000			(1,112,000)			2,350,000
Ending balance			$	4,511,000		$	524,000		$	3,689,000		$	110,000		$	2,261,000		$	64,000		$	1,284,000		$	658,000		$	1,009,000		$	14,110,000
Allowance for loan losses as of June 30, 2020
Ending balance specifically evaluated for impairment			$	199,000		$	20,000		$	132,000		$	—		$	269,000		$	—		$	292,000		$	5,000		$	—		$	917,000
Ending balance collectively evaluated for impairment			$	4,312,000		$	504,000		$	3,557,000		$	110,000		$	1,992,000		$	64,000		$	992,000		$	653,000		$	1,009,000		$	13,193,000
Related loan balances as of June 30, 2020
Ending balance			$	397,155,000		$	47,169,000		$	327,967,000		$	49,644,000		$	499,693,000		$	14,707,000		$	87,019,000		$	28,269,000		$	—		$	1,451,623,000
Ending balance specifically evaluated for impairment			$	5,749,000		$	934,000		$	853,000		$	—		$	10,311,000		$	—		$	2,161,000		$	5,000		$	—		$	20,013,000
Ending balance collectively evaluated for impairment			$	391,406,000		$	46,235,000		$	327,114,000		$	49,644,000		$	489,382,000		$	14,707,000		$	84,858,000		$	28,264,000		$	—		$	1,431,610,000

The following table presents allowance for loan losses activity by class for the year ended December 31, 2019 and allowance for loan loss balances by class and related loan balances by class as of December 31, 2019:

			Commercial															Municipal			Residential									Home Equity Line of Credit			Consumer			Unallocated			Total
			Real Estate			Construction			Other						Term			Construction
For the year ended December 31, 2019
Beginning balance			$	3,567,000		$	255,000		$	3,541,000		$	24,000		$	1,235,000		$	34,000		$	730,000		$	630,000		$	1,216,000		$	11,232,000
Charge offs			89,000			—			179,000			—			445,000			—			69,000			338,000			—			1,120,000
Recoveries			15,000			—			73,000			—			57,000			—			4,000			128,000			—			277,000
Provision (credit)			249,000			110,000			(106,000)			3,000			177,000			(9,000)			413,000			447,000			(34,000)			1,250,000
Ending balance			$	3,742,000		$	365,000		$	3,329,000		$	27,000		$	1,024,000		$	25,000		$	1,078,000		$	867,000		$	1,182,000		$	11,639,000
Allowance for loan losses as of December 31, 2019
Ending balance specifically evaluated for impairment			$	251,000		$	—		$	1,273,000		$	—		$	237,000		$	—		$	447,000		$	5,000		$	—		$	2,213,000
Ending balance collectively evaluated for impairment			$	3,491,000		$	365,000		$	2,056,000		$	27,000		$	787,000		$	25,000		$	631,000		$	862,000		$	1,182,000		$	9,426,000
Related loan balances as of December 31, 2019
Ending balance			$	372,810,000		$	38,084,000		$	218,773,000		$	41,288,000		$	492,455,000		$	14,813,000		$	92,349,000		$	26,503,000		$	—		$	1,297,075,000
Ending balance specifically evaluated for impairment			$	6,309,000		$	958,000		$	7,075,000		$	—		$	12,439,000		$	—		$	2,488,000		$	5,000		$	—		$	29,274,000
Ending balance collectively evaluated for impairment			$	366,501,000		$	37,126,000		$	211,698,000		$	41,288,000		$	480,016,000		$	14,813,000		$	89,861,000		$	26,498,000		$	—		$	1,267,801,000

The following table presents allowance for loan losses activity by class for the six months and quarter ended June 30, 2019, and allowance for loan loss balances by class and related loan balances by class as of June 30, 2019:

			Commercial															Municipal			Residential									Home Equity Line of Credit			Consumer			Unallocated			Total
			Real Estate			Construction			Other						Term			Construction
For the six months ended June 30, 2019
Beginning balance			$	3,567,000		$	255,000		$	3,541,000		$	24,000		$	1,235,000		$	34,000		$	730,000		$	630,000		$	1,216,000		$	11,232,000
Charge offs			53,000			—			109,000			—			93,000			—			38,000			187,000			—			480,000
Recoveries			13,000			—			2,000			—			6,000			—			2,000			71,000			—			94,000
Provision (credit)			82,000			54,000			(153,000)			1,000			(42,000)			(11,000)			(61,000)			135,000			620,000			625,000
Ending balance			$	3,609,000		$	309,000		$	3,281,000		$	25,000		$	1,106,000		$	23,000		$	633,000		$	649,000		$	1,836,000		$	11,471,000
For the three months ended June 30, 2019
Beginning balance			$	3,632,000		$	325,000		$	3,430,000		$	25,000		$	1,114,000		$	30,000		$	630,000		$	660,000		$	1,644,000		$	11,490,000
Charge offs			53,000			—			108,000			—			44,000			—			—			124,000			—			329,000
Recoveries			5,000			—			1,000			—			3,000			—			1,000			50,000			—			60,000
Provision (credit)			25,000			(16,000)			(42,000)			—			33,000			(7,000)			2,000			63,000			192,000			250,000
Ending balance			$	3,609,000		$	309,000		$	3,281,000		$	25,000		$	1,106,000		$	23,000		$	633,000		$	649,000		$	1,836,000		$	11,471,000
Allowance for loan losses as of June 30, 2019
Ending balance specifically evaluated for impairment			$	196,000		$	—		$	1,320,000		$	—		$	305,000		$	—		$	9,000		$	—		$	—		$	1,830,000
Ending balance collectively evaluated for impairment			$	3,413,000		$	309,000		$	1,961,000		$	25,000		$	801,000		$	23,000		$	624,000		$	649,000		$	1,836,000		$	9,641,000
Related loan balances as of June 30, 2019
Ending balance			$	359,581,000		$	32,785,000		$	205,910,000		$	36,113,000		$	481,349,000		$	13,239,000		$	94,763,000		$	25,392,000		$	—		$	1,249,132,000
Ending balance specifically evaluated for impairment			$	8,961,000		$	982,000		$	7,582,000		$	—		$	12,636,000		$	—		$	1,019,000		$	—		$	—		$	31,180,000
Ending balance collectively evaluated for impairment			$	350,620,000		$	31,803,000		$	198,328,000		$	36,113,000		$	468,713,000		$	13,239,000		$	93,744,000		$	25,392,000		$	—		$	1,217,952,000

X

- Definition

Tabular disclosure for the roll forward of change in allowance for loan losses from period to period and related loan balances.

+ References

No definition available.

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- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953423-111524

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919249-210447

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X

- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919230-210447

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953659-111524

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